Bitcoin open interest stabilizes around $29 billion, lowest level since June
Odaily2024/07/24 23:30
By:Odaily
Odaily News According to data from The Block, despite recent price fluctuations, BTC total open interest remains stable at around $29 billion, the lowest level since June.
Bitcoin futures trading volume remained around $1.5 trillion month-on-month, indicating that trader participation continued despite price fluctuations. Analysts said that normally, high open interest combined with sharp price increases could indicate a
market bubble where market enthusiasm could outweigh fundamental value. However, currently open interest is stable and prices are rising, indicating a more cautious market sentiment.
0
0
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Citi Shares Reasons Why Bitcoin and Cryptocurrencies Aren’t Surging and What to Expect in the Days Ahead
Citi analysts analyzed the underperformance in the Bitcoin and cryptocurrency markets and shared their predictions. Here are the details.
Bitcoinsistemi•2024/09/07 09:51
Tron (TRX): Analyst Predicts Short-Term Dip Despite Long-Term Strength
Cryptodnes•2024/09/07 09:27
![](https://img.bitgetimg.com/multiLang/image/social/130e6442acf0e5a674ddcfc6f4be9f961725701227108.webp)
Here’s How Much Bitcoin (BTC) Was Mined in Russia in 2023
Cryptodnes•2024/09/07 09:24
![](https://img.bitgetimg.com/multiLang/image/social/9678eca0a333251b1e43abf5a5b30d921725701050772.jpg)
OpenAI business users top 1M, targets premium ChatGPT subscriptions
Cointelegraph•2024/09/07 09:15